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Bitcoin Price to Hit $98K in November! BTC Bulls Charging for Massive Rally!

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Bullish volatility is on the rise, and numerous coins have broken out to new all-time highs as a result of the current bullish momentum. Bulls grabbed control of the price movement after hitting a low of $4,283 in the early morning hours of Nov. 2 and boosted Ethereum price to a new all-time high of $4,523. 

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Following initial selling pressure, the crypto market has had a quiet start to the month. Bitcoin (BTC) is now trading at USD 62,980, up 1.9 percent on the day. The price of Bitcoin was able to break through the $62,500 barrier level against the US Dollar. If cryptocurrencies continue to gain traction in the short term, BTC may correct lower.

Bitcoin Price Analysis:

To bring the first significant resistance levels at $64,806 and $65,000 into play, Bitcoin would have to prevent a collapse through the pivot at $62,734.

However, for Bitcoin to break out from its morning high of $63,565.0, it will need support from the rest of the market. 

If a crypto rally does not last long, the first significant hurdle and resistance at $65,000 will likely cap any further gains. 

Before any reversal, Bitcoin might hit resistance at $68,000 in the event of another extended gain. $66,364 is the second significant barrier level.

If the price falls below the pivot at $62,734, the first significant support level at $61,176 will be tested. BTC Price should avoid falling below $60,000 unless there is a sustained sell-off during the afternoon. $59,104 is the second significant support level. 

Bitcoin has increased by more than 50% in the last month and has increased by 450 percent in the last year. Analysts have boosted their expectations for the asset as a result of its performance, believing it may hit $100,000 by the end of the year.

Also Read : Bitcoin Price Quashes Through $63K And Ethereum Price Bangs On Above $4400, What’s Next?

PlanB’s S2F model sends the Bitcoin on a Moon trip

PlanB to nail down its forecast for November at USD 98,000. Hodlers will have to wait a little longer for the $100k but not too long either. For December, PlanB is forecasting an increase to 135,000 US dollars.

The Blogger Scientist is a "Medical Physiologist" and a "Financial Asset" Content Creator who aims at enlightening web reader on varying Financial Assets such as Stocks, FX, Crypto, MLM,. HYIP among others.

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